The first is a $185 million deal to modernize 1,000 diesel-electric locomotives.
The agreement was signed between NERIC, the National Bank of Egypt (NBE), the Commercial International Bank (CIB), and the Arab African International Bank (AAIB).
The project, located in the western region of Damietta Port, will recycle ships, construct new vessels, and conduct ship repairs, including planned and emergency maintenance for vessels up to 400 meters in length and 40,000 tons in lightweight displacement
Al-Wazir stated that the launch of the locally manufactured Exeed car production line aligns with directives to position Egypt as a regional industrial hub, particularly in the automotive sector.
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